The Cabinet has lowered its economic growth forecast for the year

В Кабмине ухудшили прогноз роста экономики на год

The authorities began to reduce the economic Outlook for 2019

The GDP forecast for 2019 was reduced to 2.8% from 3%. For the first two months of the year the economy showed growth of 1.2%.

The Ministry of economic development and trade downgraded its growth forecast for real gross domestic product this year from 3% to 2.8%. This is stated in the macroeconomic review of the Ministry of Finance published on the Agency’s website on Friday, April 12.

The forecast of nominal GDP in the current year improved to 4 trillion UAH 80.2 billion with $ 3 trillion 946,9 billion.

Forecast growth in real GDP in 2020 remained at the level of 3.8%, 2021 and 4.1%.

The Ministry also raised its forecast for the hryvnia exchange rate to 29 UAH/USD UAH from 29.7 million in 2020 and to 29.8 UAH/USD UAH from 30.4 million in 2021.

The forecast of the hryvnia exchange rate in 2019 maintained at the level of 28.2 UAH/USD.

Earlier it was reported that for the first two months of the year 2019 the growth of Ukraine’s GDP compared to the same period last year amounted to 1.2%.

As you know, in 2018, the growth of Ukraine’s economy accelerated to 3.3% from 2.5% in 2017, and broke the record for seven years. At the same time, it is expected that in 2019, GDP growth will again slow down to 2.5%. The state budget for 2019 is built on the forecast economic growth of 3%.

 

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